“Greece’s Credit Rating on the Rise in 2026 — March Reviews from Moody’s, DBRS & Scope Signal Upgrades”

Greece poised for new sovereign credit upgrades in 2026

Greece’s sovereign credit rating — already on an upward trajectory over the past years — is expected to see further upgrades in 2026, with the first major reviews slated for March from three influential rating agencies: Moody’s, DBRS Morningstar and Scope Ratings. These assessments could further solidify international confidence in the Greek economy.

According to market and credit analysts, this positive momentum builds on the upgrades that began in 2023 and continued through 2025, as Greece exited its post‑debt‑crisis “junk” status and regained full investment‑grade ratings from major agencies.

March signals key turning‑point reviews

 March 2026:

• Moody’s: The American rating giant — which currently places Greece at BBB‑ (stable outlook) — will release its first 2026 sovereign credit review. A positive shift could move Greece closer to A‑grade territory, matching many Eurozone peers.
• DBRS Morningstar and Scope Ratings: Both agencies, already at BBB (stable outlook), are expected to reaffirm or potentially elevate Greece’s rating. Scope, in particular, has been a trailblazer, being the first to restore Greece to investment grade and to upgrade it within that category.

Later in the spring and early summer 2026, S&P Global and Fitch Ratings are also scheduled to publish their sovereign credit reviews — potentially cementing the next wave of upward revisions.

Why the upgrades matter

A stronger sovereign rating carries multiple implications for Greece’s economy:

•  Lower borrowing costs — Government bond yields tend to fall as perceived credit risk declines.
•  Broader investor appeal — Higher ratings make Greek bonds more attractive to conservative institutional investors like pension funds and insurance companies.
•  Economic confidence and stability — Stronger ratings reflect improved fiscal discipline and structural resilience.

Greek 10‑year bond yields have tightened markedly compared to European counterparts, reflecting this trend of growing confidence.

What’s driving the improvements

The backdrop behind Greece’s rating upgrades includes several positive economic trends:

•  Fiscal consolidation: The 2026 budget projects a primary surplus of around 2.8% of GDP.
•  Debt reduction: Gross public debt is expected to decline further to 138.2% of GDP in 2026, down from 145.9% in 2025, and under 120% by 2029.
•  Economic growth: Real GDP is projected to grow by approximately 2.4% in 2026.
•  Banking sector strengthening: Banks have reduced non‑performing loans and improved capital buffers closer to Eurozone averages, boosting financial system stability.

These fundamentals — tighter fiscal management, shrinking debt burdens and resilient institutions — underpin the reason agencies are considering further upgrades.

Rating agencies: recent history and expectations

In March 2025, Moody’s upgraded Greece’s sovereign rating to Baa3 — an investment‑grade level — from Ba1 due to rapid public finance improvements and enhanced economic resilience.

Other agencies now assign Greece investment‑grade status at or near BBB, with S&P, Fitch, DBRS and Scope already affirming ratings at that level, leaving Moody’s as the only major house slightly below the others ahead of 2026 reviews.

Market analysts note that Scope’s positive outlook makes it a likely candidate to move Greece up even further, possibly to BBB+ — just one step shy of the coveted A level — as early as March or at its second review in September.

What this means for markets and policy

A sequence of upgrades in 2026 would be seen as endorsement of Greece’s economic strategy — emphasizing fiscal discipline, debt reduction and institutional reform — and would likely help keep borrowing costs in check even as global rates trend higher.

For investors and policymakers alike, these reviews are not just technical rulings, but signals of Greece’s evolving creditworthiness and economic legitimacy on the international stage, especially after years of crisis and recovery.

Greece appears on track for a further round of sovereign rating increases in 2026, beginning with major reviews in March by Moody’s, DBRS and Scope. These upward moves reflect sustained fiscal and economic progress, with the potential to lower borrowing costs and attract broader investor interest, further strengthening confidence in the Greek economy as it continues to shed its crisis legacy.